I hope that you aren't discouraged by the comments here. They're truly meant to be helpful. I have not heard of the system that you are using, although I know that you can pay equal amounts all year to you electric company. But then again, you can do that yourself. I know that alot on this forum have not heard of the way you're paying your bills
It sounds like to me that this is a course of action used by college students in order to survive while going to college and maybe it's a new trend among young people. Trust us on this forum, that system will catch up with you. It's like you are living for today and not thinking about tomorrow. Although I can tell that a light bulb is going on because you know that you need an emergency fund. If you continue reading here, you'll get a lot of tried and true ideas that will definitely help you.
Again, list all of your income. Make a list of ALL of your expenses. List any 401K plans and try to save 10% of each paycheck. That money should not be touched. I'd say 10% for reitirement and 5% for emergency funds if you want. Your funds will depend upon many things such as where you live. Do you have a rental lease or pay rent at home with family? Again, list everything including any contributions to the coffee fund or gift fund at work. These things add up.
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